Nomura Securities Maintains a 'Buy' on Bed Bath and Beyond; Raises PT After Q4 Results
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Price: $4.35 -2.03%
Rating Summary:
4 Buy, 17 Hold, 14 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 17 Hold, 14 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Buy' on Bed Bath and Beyond (NASDAQ: BBBY), PT increased from $63 to $65.
Nomura analyst, Aram Rubinson, said, "Review of 4Q earnings; reported strong results with EPS coming in at $1.12, 15% ahead of our est and consensus. Guidance is likely to further calm nerves with an implicit outlook of $3.38-$3.53. The Street was at $3.33 and we were at $3.50. BBBY delivering a comp of +8.4% (Street was +3.2%; we were +4.0%) on top of +11.4% last year. In addition, GM performance was also surprising, up 40bp after the market viewed FQ3's gross margin decline as the new norm. Looking forward, we believe company guidance is achievable, if not conservative. We remain above Street consensus and raise our EPS estimates to $3.65 (from $3.50) and $4.35 (from $4.17), for F11 and F12, respectively."
For more ratings news on Bed Bath and Beyond click here and for the rating history of Bed Bath and Beyond click here.
Shares of Bed Bath and Beyond closed at $49.39 yesterday.
Nomura analyst, Aram Rubinson, said, "Review of 4Q earnings; reported strong results with EPS coming in at $1.12, 15% ahead of our est and consensus. Guidance is likely to further calm nerves with an implicit outlook of $3.38-$3.53. The Street was at $3.33 and we were at $3.50. BBBY delivering a comp of +8.4% (Street was +3.2%; we were +4.0%) on top of +11.4% last year. In addition, GM performance was also surprising, up 40bp after the market viewed FQ3's gross margin decline as the new norm. Looking forward, we believe company guidance is achievable, if not conservative. We remain above Street consensus and raise our EPS estimates to $3.65 (from $3.50) and $4.35 (from $4.17), for F11 and F12, respectively."
For more ratings news on Bed Bath and Beyond click here and for the rating history of Bed Bath and Beyond click here.
Shares of Bed Bath and Beyond closed at $49.39 yesterday.
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